NZD/USD – 1H – BUYThe pair New Zealand Dollar/US Dollar (NZD/USD) goes from the ascending trendline down.
A descent downwards to the next support at will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 0.57926 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Matching Low’ candlestick chart pattern is discovered. The candles form ‘Matching Low’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.58877 |
| 2nd High | 0.58171 |
| Next High | 0.57926 |
| Current Price | 0.56203 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – NZD – NZD/USD – USD – Matching Low